Corriente Advisors

Corriente accumulated Venezuelan sovereign CDS positions starting in 2010, holding over $400 million in notional exposure by 2015. The firm participated in creditor committees during Venezuela's default cycle and pursued early settlements involving bond acceleration and attachment litigation in U.S. courts, a strategy that required proving willful non-payment in Southern District of New York proceedings (per Reuters, 2015).

The firm sources through direct ISDA counterparty relationships with money-center banks trading emerging-markets credit, auction participation in restructured bond exchanges, and litigation-triggered asset discovery. Hart's strategy relies on identifying sovereigns with hard-currency obligations, limited multilateral intervention, and politically isolated central banks — a framework he detailed in interviews with Grant's Interest Rate Observer in 2013.

Yes. Corriente uses a creditor-activism model, routinely filing proofs of claim in sovereign restructuring proceedings and pursuing attachment litigation to enforce judgments against sovereign assets located in the U.S. and Europe. This approach mirrors distressed-for-control tactics more commonly associated with Elliott Management than with traditional long-short macro funds.